First the penny, now the nickel: Congress moves closer to passing Common Cents Act

Live updates

1. 2d ago

   Congress Weighs Legislation as Penny Production Stops

   Congress is considering legislation to make the end of penny production official while shifting attention toward potential changes for the nickel. The halted manufacturing of the penny leaves open questions about how consumers will manage cash purchases at checkout counters. Although production has stopped, cash transactions remain active, meaning retailers and buyers must adapt to new rounding methods when exact change is unavailable. Lawmakers are moving closer to formalizing these adjustments through the legislative process, impacting everyday financial interactions across the country.

   Why it matters

   The United States has already stopped producing pennies, forcing a transition in how physical currency is handled during retail transactions. Lawmakers are now weighing further statutory measures to address outdated coinage economics. This shift alters traditional checkout procedures for cash payers while retaining exact payment methods for card and SNAP users.

   What is confirmed

   • The United States has stopped producing pennies.
   • Congress is considering legislation to make the end of penny production official.

   Still unconfirmed

   • Cash purchases will undergo specific changes regarding rounding and change at checkout.

   What to watch next

   • Congressional votes on the official penny legislation
   • Implementation details for cash rounding at retail registers
   Sources used for this update (3)

   1. craftyourhappyplace.com — The U.S. Has Stopped Making Pennies—Now Congress Wants to ...
   2. www.cleverdude.com — The Penny Is Disappearing — Here's What Could Happen When You ...
   3. commonhall.org — Bills · CommonHall
   confidence 80%
2. 5d ago

   Congress Passes Common Cents Act to End Penny Production

   Congress has cleared the Common Cents Act, bringing an end to penny production and authorizing the Treasury Department to create a cheaper nickel. The legislation addresses long-standing coinage issues by permitting retailers to round cash transactions to the nearest five-cent increment when exact change is unavailable. SNAP and card payments will remain exact. The Senate unanimously approved the measure after it cleared the House, marking a bipartisan effort to reduce minting costs that currently exceed the face value of the coins. Proponents argue the update will save taxpayers millions of dollars while streamlining checkout lines.

   Why it matters

   Minting costs for U.S. coins have risen past their face value, draining public resources for years. The new legislation permits the Treasury Department to develop cheaper coin compositions, such as zinc clad in nickel, and allows for the potential suspension of circulating denominations. Retailers are preparing for the shift with signs notifying shoppers of the penny phase-out.

   What is confirmed

   • The U.S. Senate unanimously approved the Common Cents Act.
   • The legislation formally ends the production of the penny.
   • The bill gives the Treasury Department authority to develop a cheaper nickel, including compositions of zinc clad in nickel.
   • The act permits retailers to round cash transactions to the nearest five-cent increment when exact change is not available.
   • Card and SNAP payments remain exact under the new rules.

   Still unconfirmed

   • The move will potentially save taxpayers millions while simplifying everyday cash purchases for American consumers and small businesses.

   What to watch next

   • Implementation details and timelines from the Treasury Department regarding the new nickel composition.
   • Guidance for retailers on rounding cash transactions.
   Sources used for this update (6)

   1. mybillboard.org — U.S. Congress Bill Tracker & Nonpartisan News | BillBoard
   2. thenationalpulse.com — House Unanimously Passes Bill to End Penny Production.
   3. cicndailypost.com — Senate Passes Bill to End Wasteful Penny Production, Fix Cash ...
   4. congressindex.com — Congress Index
   5. www.coinworld.com — Composition proposed still to contain nickel
   6. www.applevalleynewsnow.com — Can we still use pennies? Congress plots a penniless future
   confidence 100%
3. 75d ago

   US Senate passes Common Cents Act, potentially changing nickels and cash payments

   The US Senate has passed the Common Cents Act, which could lead to changes in nickels and how cash payments are made. The bill aims to allow for the rounding of cash transactions to the nearest five-cent increment, potentially phasing out the use of pennies and nickels. The act has garnered support from some retailers, but concerns have been raised about its impact on consumers.

   Why it matters

   The Common Cents Act comes after the retirement of the penny, and its passage could have significant implications for the way people pay with cash. The bill's proponents argue that it will simplify cash transactions and reduce the costs associated with producing and handling coins. However, some critics worry that it could lead to price increases for consumers.

   What is confirmed

   • The Senate has passed the Common Cents Act.
   • The bill aims to allow for the rounding of cash transactions to the nearest five-cent increment.
   • The act has garnered support from some retailers, including the National Grocers Association.

   Still unconfirmed

   • Walmart shoppers could be charged more at checkout under the '3-4-8-9' rule.

   What to watch next

   • The bill's passage in the House of Representatives
   • The implementation of the Common Cents Act
   • The impact of the act on consumers and retailers
   Sources used for this update (7)

   1. The Hill — Senate passes bill that could change nickels and how you pay with cash
   2. Holland & Knight — States Respond to Penny Pinching with Rounding Legislation
   3. The Independent — First the penny, now the nickel: Congress moves closer to making big changes with the money in your pocket
   4. the-sun.com — Walmart shoppers could be charged more at checkout under ‘3-4-8-9’ rule
   5. Deli Market News — NGA Supports Senate Passage of Common Cents Act; Stephanie Johnson Comments
   6. the-sun.com — Shoppers inch closer to paying more at checkouts with new 'cash' bill
   7. independent.co.uk — Fears for the nickel as Senate passes ‘Common Cents Act’ after penny retirement
   confidence 85%